Probably, what they want is to make sure the appeal is done before Friday's hearing which I don't think can happen so I think they are basically asking for a delay in Friday's hearing.
Also, I guess Sontchi denied the request to go straight to federal court.
Attorneys for the lenders and shareholders indicated that they will appeal Sontchi's decision and would seek his permission to file their challenge directly to a federal appeals court, bypassing a federal district court in Delaware.
Since the appeal was filed in Delaware Federal District Court.
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
NOTICE OF APPEAL
OF AD HOC EQUITY COMMITTEE PURSUANT TO
BANKRUPTCY RULE 8001(A) FROM ORDER DATED JUNE 17, 2010
AUTHORIZING DEBTORS TO ENTER INTO EQUITYCOMMITMENT
AGREEMENT, PLAN SUPPORT AGREEMENT AND RELATED AGREEMENTS
My opinion is the arogant Chris Sontchi is trying to keep this close to home. Of course I'm biased and certainly do not like his decisions to date, so I don't like this one either.
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